Three men have been charged after police raids in which $4.7 million cash, five kilos of drugs and cryptocurrency teller machines were allegedly seized in NSW.
Two men – aged 34 and 39 – were arrested near a unit block in Mascot on Friday as part of an investigation into alleged money laundering.
Police say a search of the pair found $120,000 in cash on the younger man and $51,500 in cash on the older man along with 13 envelopes containing illicit drugs believed to be cocaine, heroin and methylamphetamine.
A third man, aged 45, was arrested later on Friday as police raided two units in Mascot and a storage unit in Kingsgrove.
Police say their raids uncovered $4.7 million in cash, money counters, mobile phones, laptops, USB storage devices and three cryptocurrency automatic teller machines.
There was also about allegedly 5kg of prohibited drugs including heroin, methylamphetamine and cocaine believed to have been illegally imported into Australia
The three men were taken to Mascot Police Station, where the 34-year-old was charged with dealing with proceeds of crime and money laundering.
He was granted conditional bail to appear at the Downing Centre Local Court on Monday.
The 39-year-old was charged with 12 offences including three counts of supplying prohibited drugs (commercial quantity), three counts of supplying prohibited drugs (indictable quantity), four counts of knowingly dealing with proceeds of crime.
He was refused bail in the Central Local Court on Saturday and remanded to appear in the same court on 2 June..
The 45-year-old man was charged with knowingly dealing in the proceeds of crime and supplying prohibited drugs and granted conditional bail, to appear at Downing Centre Local Court on May 6.